GENERAL INFORMATION

INTRODUCTION
Belize was formerly called British Honduras and is an independent democratic Commonwealth country located on the Caribbean seaboard of Central America. Since independence from Britain in 1981, it has enjoyed a stable and democratic Government.

The administrative capital is Belmopan, but the major commercial centre is Belize City, which is located on the eastern coast close to the major international airport. The total population of Belize is around 300,000 of which some 60,000 live in Belize City.

LANGUAGE
The official and spoken language is English.

TYPE OF LAW
Common Law. Based on English Company Law.

COMPANY INFORMATION

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
International Business Company (IBC)

TIME TO INCORPORATE
One Day, but allow Seven working days for receipt of documentation.

RESTRICTIONS ON NAME AND ACTIVITY
Names must end with one of the following words, or abbreviations thereof - Limited, Corporation, Incorporated, Societe Anonyme or Sociedad Anonima.

The following words, and their associated activities, cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal and Royal.

CLASSES OF SHARES PERMITTED
Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
No.

LICENCE FEES
Companies with an authorised capital up to US$ 50,000 pay the sum of US$ 100 per year.

Companies with a share capital over US$ 50,001 pay the sum of US$ 1,000 per year.

Companies, which have some or all of their shares with no par value, pay the sum of US$ 350 per year.

FINANCIAL STATEMENT REQUIREMENTS
Whilst there is no requirement to file annual audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a company.

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission.